August 17, 2011

Itemized Deductions!

  1. Medical Expeneses = 7.5% of AGI can be itemized
  2. State and Local Taxes Paid can be itemized
  3. Mortgage Interest Expense up to 2 homes
  4. Investment Interest up to the amount income reported from investments
  5. Charitable Contributions up to 50% of AGI can be itemized
  6. Casualty and Theft Losses up to 10% of AGI and $100 per event
  7. Gambling Losses up to gambling winnings can be itemized

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